BEAUMONT, Texas– A Beaumont man has pleaded guilty to federal violations in the Eastern District of Texas, announced U.S. Attorney Damien M. Diggs today.
Michael James White, 34, pleaded guilty to wire fraud charges before U.S. Magistrate Judge Zack Hawthorn on August 1, 2023
Based on court records, it was revealed that White held the title of proprietor and manager at Gold Pro, LLC, a Vidor-based enterprise specializing in the trade of valuable commodities such as gold and silver. Their offerings were promoted as a means of safeguarding against potential economic instability in the future. Gold Pro functioned by pledging a specified quantity of precious metals to interested customers nationwide, subsequently securing payment through wire transfers from buyers’ bank accounts to those belonging to Gold Pro.
White utilized various communication methods such as email, telephone, and computer chat to interact with potential purchasers regarding the quantity of precious metals they intended to acquire. They would then negotiate a mutually agreeable price for the metals and arrange for their delivery. However, beginning in 2021, White engaged in deceptive practices on multiple occasions. This included accepting payment but failing to deliver the promised precious metals, providing lesser-value products instead, or even delivering counterfeit materials. Over a span of nearly three years starting from 2020, White defrauded numerous individuals across the United States, resulting in losses exceeding $1 million.
A potential consequence for White is a federal prison term of up to 20 years. It is important to note that the maximum sentence established by Congress serves solely as informational context, and the court will ultimately determine the appropriate sentencing based on advisory guidelines and other legal factors. Following a thorough investigation by the U.S. Probation Office, a hearing will be scheduled to determine the final sentencing decision.